A director of the John Keells group’s Nations Trust Bank PLC (NTB) has resigned due to the bank hiring one of his close relatives.
M.E. Wickremesinghe announced that he would resign from the board of the bank effective from December 1, which was approved by the board last week.
“Wickremesinghe has stated that he wishes to resign in the interest of good governance, as the bank has recruited a close relative of his to its management cadre,” a Colombo Stock Exchange filing said.
Wickremesinghe had joined NTB in 2007 and his duration of service on the board had reached eight years and nine months.
According to the Central Bank regulations, a director cannot serve on the board of a commercial bank for over nine years.